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Solana’s price continues to face resistance near the $200 mark, a level that is proving difficult to break. After multiple recovery attempts, altcoins remain capped and slightly below that threshold. Despite the general optimism, Solana was unable to find support at $200, leaving investors cautious and aggressively taking profits. Solana profits remain volatileRecent data shows that Solana's profit supply has been volatile. In just 48 hours, SOL supply jumped from 52% to 70% of profits - an increase of 18% - while the price itself increased by less than 5%. This disparity suggests that many holders have accumulated their coins around $200. When Solana's price drops, these profits disappear quickly, leading to new selling pressure. The sharp moves confirm that $200 remains a key psychological and technical hurdle.  Exchange data reinforced that cautious outlook. Over the past 10 days, approximately 1.5 million SOL (valued at nearly $300 million) has been transferred to exchanges. This trend suggests that many holders are choosing to sell rather than accumulate, reflecting the prevailing bearish sentiment across the market. Rising FX balances often precede short-term corrections as increased supply on trading platforms increases the risk of selling. Solana is likely to continue to face downward pressure unless inflows slow or strong buying interest emerges.  SOL price needs to find strength to reboundAt the time of writing, Solana is trading at $197, just below the $200 resistance. This price level has repeatedly acted as a ceiling, hampering a sustained recovery. In order to achieve a decisive breakout, SOL must secure $200 as a solid base of support to confirm bullish strength. If the selling pressure persists, Solana’s price could fall below $192 and possibly drop to $183 or even $175. Continued rise in FX balances and volatile profit-taking activity support this near-term bearish scenario.  However, the bearish outlook may be invalidated if Solana manages to climb above $200 and extend gains to $213. A clean break above $200 could revive investor interest, improve sentiment and reduce short-term volatility. The article ends here. If you like it, please like and repost it. To learn more about market trends and information, please read below👇! If you want to go ashore, come with us to grasp the next hot spots and jointly maximize the return on investment! Join us: send a private message in the background or scan the QR code below If you want to know more about the currency circle and first-hand cutting-edge information, please feel free to consult me. We have the most professional currency circle community and publish market analysis every day. High-quality potential currency recommendations. If you also want to ride through the bull and bear markets, watch others sink to the bottom in the bear market, double your income, and get rid of the shackles of the bull and bear markets, welcome to private message me to join us.  |
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